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Iron Ore Pellets Market Size

  • Report ID: GMI4084
  • Published Date: Nov 2022
  • Report Format: PDF
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Iron Ore Pellets Market Size

Iron Ore Pellets Market size was recorded at over USD 60 billion in 2022. Driven by booming automotive industry, the business sphere is expected to grow at more than 3.5% CAGR from 2023 to 2032.

 

Iron Ore Pellets Market
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Proliferating demand for steel in the construction sector is set to foster market growth. These small balls of iron ore are made of powder extracted from materials considered waste. The booming infrastructural development across the globe has bolstered the demand for steel in various industries. Moreover, a supportive regulatory backdrop on achieving smart city plans is anticipated to boost product penetration over the next 10 years.
 

Notably, unfavorable government policies associated with sintering activities, especially in China are providing huge opportunities for the iron ore pellets market. As sintering is an alternative process of formulizing iron ore for steelmaking, stringent regulations on sintering processes due to safety and health concerns regarding the production space are propelling industry growth.
 

Iron Ore Pellets Market Report Attributes
Report Attribute Details
Base Year:2022
Iron Ore Pellets Market Size in 2022:USD 63.0 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:3.7%
2032 Value Projection:USD 90.0 Billion
Historical Data for:2017 to 2021
No. of Pages:461
Tables, Charts & Figures:951
Segments covered:Grade, Balling Technology, Application, Steelmaking Technology, Product Source, Pelletizing Process
Growth Drivers:
  • Shifting trend toward carbon-less steelmaking across North America and Europe
  • Proliferating steel demand in the construction sector
  • Unfavorable government policies related to sintering activities in China
  • Increasing steel usage in the automotive industry
  • Superior product benefits compared to lumps or sinter
Pitfalls & Challenges:
  • Lack of integration between steelmakers and pellet suppliers in Western countries
  • Availability of substitutes at reasonable rate
  • Volatile iron ore prices
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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global Market size for Iron Ore Pellets was valued at more than USD 60 billion in 2022 and is set to progress at over 3.5% CAGR over the next 8 years owing to the booming automotive industry.

The iron-based chemicals application segment is slated to grow at over 3% CAGR from 2023 to 2032 owing to stringent regulatory norms for wastewater treatment initiatives.

The blast furnace segment was valued at USD 48 billion in 2022 as a result of its cost-effectiveness compared to the traditional direct reduction grades (DR).

The Asia Pacific iron ore pellets industry is set to depict over 4% CAGR between 2023 and 2032 as a result of escalating automobile demand and production in the region.

Iron Ore Pellets Market Scope

  • Iron Ore Pellets Market Size
  • Iron Ore Pellets Market Analysis
  • Iron Ore Pellets Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 22
    • Tables & Figures: 951
    • Countries covered: 25
    • Pages: 461
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